Time to execute the plan

Management says the assets are suited for the dividend model, and that the company is materially undervalued trading at a near 10% yield. They are planning to implement a new "awards" based compensation and have parted with nearly all the outstanding, underwater options on the books. Cheap warrants remain. We saw an insider sell ~143,000 shares last week, undoubtedly after exercising some of those warrants.

Next 3-6 months will tell the story on Renegade. If they execute on managing declines and costs its a $3+ stock. If they don't, investors will fret over the debt and declining asset base and discount the stock further. AGM should give clarity on the new awards plan... Surrendering all the options between $2.50-$3 doesn't exactly inspire confidence...